The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1887-09-14

w. lV|%fV5!VY, ' ', :
WHEELING,
have amassed practically amount to moth
Ing claims against defunct leased lines,
| TIE BLOW THAT CRUSHED HIN. .
1T Is no longer matter Of doubt tha
the letter written by Robert Garrett wa
the direct cause Of the assignment Of the
firm Of Henry 8. Ives 4 Go. The follow
Ing gossip was related to me under cir
cumhtancea and by an authority Batisfyine
me that therO Ia truth in II. Ono OF tht
payments 10 Mr.. Garrett was made under
those circumstances. Mr.. Ives was In
Cincinnati looking after the interesta ol
the Cincinnati, Hamilton 4 Dayton Com,
pany, when he learned that Mr.. Garrett
had himself written letters to the bankers
IN Cincinnati making application for loans
there. Ives telcgraphed to Garrett over
his private wire that such procedure was
running hia credit. Mr.. Garrett replied that
he Must have 5000 900, and as he could
not get 1t In Baltimore he had aought the
Cincinnati market. Ives telegraphsd back
eaying that he could not let him have
5000, 900, and asking what sum he could
get along with. Mr. Garrett responded
that ho could manage on $500 1000, which
Mr.. Ives caused to be sent to him by tele-
graph from his Office in New York, i can
only say in concunion that l believe
Henry s. Ives l. 90. acted In this traussc.
ton Tor the railroad corporations repre-.
ssnted by them, and for outside capital.
iats. ! have reason to believe that a great
capitalist who was interested with the
firm, owea his salvation to the missing
booka and tho isct that they arc still
missing" 90, igisTT - EF
The representative now approached a
delicate subject. - tilf @ (
"What about the missing books; Is not
their disappearance an indication that
something was wrong?", 81 Z.
The answer came amilingIy, but with
extreme canton: mo. because the bal
auces brought forward in the new BOOKS
must bs right, because they correspond
with tho books Of the railroad company" !"
"Ihen why y should they disappear so
mysteriouslyW T-0zs'I,5E&l
"Becsuse, l fancy, they would show the
c}oso relationship which others bore to
the firm. l. do not see how their disap-
pearance could have been OF any sdvant.
age to the firm, but can easily see how
Others connected with the frm and who
do not want their connection to appear in
court might have taken means to suppress
the books. You will remember that Ives
stood to the bitter end by those who were
interested with him in the Mutual Union
Telegraph corner. i$g. n. T.g.s.g :.
| REcElyERsHlP THREATENED. r3n
1T is alleged by those who profess to
know the true inwardness OF the Ives. Gar
rett deal that certain large holders Of Gar.
rett's paper in this city, and who were
identified with the Pennsylvania railroad, ,
notified him that unless he broke of the
negotiations with Ives and Stayner they
would refuse to extend his loans and
would put the Baltimore & Ohio in the
hands Of receiver. .is[;{Si Fali
"Do not the developments Of the past
few days demonstrate clearly that these
were the facts2 Mr.. Garrett has received
assistance from New York and London
bankers to the extent Of ,$lO,OOO,O0O. II
he had not had this money the Baltimore
& Ohio would have gone into the hands
Of receiver. :, Now, would these bankera
have advanced.thia money had Mr. Gar
rett concluded his negotiations? pls &
cit is also alleged by thoae who are in
position to know that Drexel, Morgan &
Co. In negotiations to- support Ives & Go.
in their deal with Robert Garrett were in
clined to give assistance conditionslly
upon friendly agreement, which amount
ed almost to q pooling OF interests be-
tween the Pennsylvania and the new
system." SlE sd f ~, s
"Will the assignee OF Ives & Co. recover
from Dir. Garrett the cash and Securities,
together with the certified check in the
la.ter's name ~ -''zo S tis<te'lS si@ie
"Moat decidedly. ! think they can not
only recover the securities, but may, in
addition, recover heavy damages. It was,
in my opinion, a purchase and sale, and
certainly court OF equity cannot take
into consideration Mr.. CARROTS outaide
chickering's or entan2lementsi It was a
proposition mado and accepted in good
faith. Two million dollars was paid &C.
cording 10 agreement to bind the trausac.
ton, and therefore was as legitimate as
note given for value received. III Ives &
Co. had departed for Europe with s., ,000,-
900 belonging to Mr.. Garrett probably
they would have been received by come
professional gentleman on the other side,
but Mr.. Garrett goes to Europe with S..
100000 Of Ives money and eecuritiea un.
indicated. That ia all I have to say, sir. !"
IVES CONFIRMS TIE STATEMENT. aiiS d,
A reporter then called upon Mr.. Ives
and showed him the foregoing statement,
which be said was correct in. all essential
Ives lays the blame for his trouble on
President Garrett, and charges that there
Was conspiracy among railroad men and
corporations to crowd him out Of the field.
He is confident that when the affairs OF
his firm are settled there will prove to be
q large surplus. He claims that he pre-.
vented the Mineral Range Railroad from
being paralleled and thus maintained its
valie. u (. ), 4 s,s.. li * h. ~
Mr.. Ives says he made two contracts
H~J. IL. ~ y